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IRB Infrastructure’s Toll Revenue Soars 19%—How They Beat the Weather Woes?

In an impressive performance, IRB Infrastructure Developers Ltd and IRB Infrastructure Trust have reported a 19% year-on-year (YoY) growth in toll revenue for September 2024. The companies’ combined toll collections reached ₹502 crores, a significant jump from ₹421 crores in September 2023, as per the latest stock exchange filing.

Continued Growth in Q2 FY25 Despite Challenges

This marks the third consecutive month of strong toll revenue expansion for IRB in Q2 FY25, underscoring the company’s resilience even in the face of challenging weather conditions. Shares of IRB Infrastructure Developers Ltd surged by 5.12% on the BSE, closing at ₹58.89, up by ₹2.87.

CEO’s Optimism for Continued Growth

Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers Ltd, commented on the solid performance:

“Our toll revenue has demonstrated remarkable resilience, achieving a 19% YoY growth despite severe rains in some regions. As we look ahead to the festive season, we are optimistic about sustaining the growth, driven by increased travel and economic activities,” said Murarka.

Financial Performance in Q2 FY25

IRB’s robust toll revenue figures have been matched by strong financial performance in the June quarter. The company posted a net profit of ₹140 crore, reflecting a 4.7% increase from the same period last year. Revenue for the June quarter rose by 13.4% to ₹1,852.9 crore, compared to ₹1,634.2 crore in the corresponding period of the previous year.

EBITDA and Margins

Earnings before interest, tax, depreciation, and amortisation (EBITDA) saw a 10.2% rise, reaching ₹857 crore for the quarter. However, the EBITDA margin slightly narrowed to 46.25%, compared to 47.6% last year.

Conclusion:

IRB Infrastructure Developers Ltd has demonstrated remarkable financial resilience, posting a 19% YoY growth in toll revenue for September 2024 despite adverse weather conditions. With continued revenue expansion for the third consecutive month, and robust performance in the June quarter, IRB is well-positioned to capitalize on increased travel and economic activity during the upcoming festive season. The company’s sustained growth signals strong momentum in India’s infrastructure sector.

FAQs:

1.How much toll revenue did IRB Infrastructure collect in September 2024?

A. IRB Infrastructure collected ₹502 crores in toll revenue in September 2024, marking a 19% YoY growth.

2.What factors contributed to IRB’s revenue growth?

A. Despite heavy rains in some regions, increased travel and economic activity contributed to the growth.

3.How did IRB Infrastructure perform financially in Q2 FY25?

A. IRB posted a net profit of ₹140 crore and revenue of ₹1,852.9 crore, up 13.4% from the previous year.

4.What was IRB’s EBITDA for Q2 FY25?

A. IRB’s EBITDA for Q2 FY25 stood at ₹857 crore, reflecting a 10.2% YoY increase.

5.How did IRB’s share price perform on the BSE?

A. IRB’s share price closed at ₹58.89 on the BSE, up by ₹2.87 or 5.12%.

6.What are the future growth prospects for IRB Infrastructure?

A. IRB is optimistic about sustaining growth during the festive season due to increased travel and economic activities.

7.What challenges did IRB face in achieving this growth?

A. IRB faced adverse weather conditions, including severe rains, but still managed to report robust growth.

8.What is IRB Infrastructure’s total revenue for the June quarter?

A. IRB’s revenue for the June quarter was ₹1,852.9 crore, a 13.4% increase from last year.

9.What is IRB’s EBITDA margin for the June quarter?

A. The EBITDA margin for the June quarter was 46.25%, slightly down from 47.6% last year.

10.How many consecutive months of toll revenue growth has IRB reported?

A. IRB has reported toll revenue growth for three consecutive months in Q2 FY25.

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